0555 GMT - The Federal Reserve is likely to "abandon" its goal of 2% inflation, says Bill Ackman, chief executive of hedge fund Pershing Square Capital Management. While people expect a "couple more cuts" from the Fed, he is "less of a believer" in that outlook. "There are so many powerful forces that are going to drive the economy and broad markets, it's hard to envision a world that isn't at least some part inflationary," he says at the UBS Asia Wealth Forum 2026. He expects the U.S. central bank to instead aim for an inflation target range of 2.5%-3%. The U.S. December consumer-price index data is due Tuesday. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
January 12, 2026 00:55 ET (05:55 GMT)
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